Transwestern Funding Group has acquired Copper Level, a 93,262-square-foot medical outpatient facility in Gilbert, Ariz. The agency paid $36 million for the asset and financed the acquisition with a $24.9 million mortgage from First Residents Financial institution, in response to Maricopa County data.
The earlier proprietor, RX Well being & Science Belief—previously often called CA Ventures—purchased the asset in 2021 for $33 million. The agency will proceed to handle the property by the ultimate lease-up and stabilization course of.
Copper Level occupies an 8-acre website at 3350 S. Val Vista Drive. The medical facility was roughly 87 p.c leased on the time of sale, its roster together with tenants resembling Metropolis of Hope, Phoenix Youngsters’s and Prosano Well being.
Accomplished in 2008, the two-story constructing has floorplates starting from 13,478 to twenty,071 sq. toes and two passenger elevators, in response to CommercialEdge data. The property additionally includes a parking ratio of 5 areas per 1,000 sq. toes.
The asset is near Mercy Gilbert Medical Heart, close to the intersection of South Val Vista Drive and Freeway 202. Downtown Phoenix is a few 30 miles northwest.
